IoT

“Technology and the Future of Work” at Distribution Conference for Financial Services

The term shifting sands is usually used to emphasize that something changes frequently, making it difficult to deal with and thus make plans. But the need for change also can lead to great opportunity. The theme for this year’s 2019 Distribution Conference for Financial Services – “Shifting Sands: Find Your Footing” seems perfect for conveying […]

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Digital transformation in the insurance industry: Part 1 – Data is the new natural resource

Today, with the help of sensors, drones and mobile devices, we are are generating unprecedented amounts of data that create both opportunities and pitfalls for the insurance industry. As data continues to become more ubiquitous and grow exponentially, insurers must establish a sustained capability to effectively use this data to remain competitive. Whilst companies have […]

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Transforming an industry, one automated action at a time

Though the concept of insurance has existed for centuries, the changes the industry has gone through in just the last decade may have been some of the most consequential since the introduction of the internet. Today, one of the biggest driving forces in insurance is the implementation of automation and how it’s changing a number […]

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Leading insurers capitalize on the expanding drone market

Seven million small drones, also known as unmanned aerial vehicles (UAVs), could fill the sky by 2020 and as many as 2.7 million of them will be used for commercial purposes according to the Federal Aviation Administration (FAA). Industries ranging from agriculture to infrastructure are now implementing drones in an array of applications and methods […]

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Four technology changes help insurers become true risk partners

Mark McLaughlin, Global Insurance Director at IBM, was interviewed by A.M. BestTV at the Meeting of Reinsurance Officials 2018 in Montreal. A.M. BestTV delivers A.M. Best’s coverage of the insurance industry in a television-quality format. In this interview with John Weber of Best TV, Mark describes how insurers and insureds benefit from four main changes […]

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Why you need to know about IBM’s Elderly Care solution

IBM has recently partnered with Malteser International (a German emergency services company) to equip over 150 apartments with the IoT sensors and cognitive computing that keeps elderly citizens safe in their homes. When the sensors detect emergencies (e.g., water leakage) or abnormal behavior (door left open during normal sleeping period), emergency services are called to […]

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Groupama and IBM find opportunity through disruption

As an insurance provider, you are most likely seeing your industry change drastically around you. Your clients look for a level of stability and constancy in their providers and disruption and change are not always a welcomed or embraced. With or without an industry consensus, the insurance landscape is going through some fundamental changes. Technology, […]

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IBM partners with MetLife and Majesco on data driven insurance platform

The IBM Insurance Platform, a collaboration between IBM, MetLife and Majesco, is a breakthrough in the insurance industry that can pave the way for product innovation, and new levels of personalized customer service while achieving lowering operating costs to the insurer. The combination of artificial intelligence, cognitive computing and cloud technology enables insurers to get […]

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The three critical questions insurance companies must answer along their IoT-led transformation journey

As a self-proclaimed “foodie” I enjoy Biryāni, a South Asian rice dish. I test this traditional recipe at restaurants whenever I get the chance. My favourite moments are when the chef has added a new spice or cooking technique that changes the dish in some unexpected way elevating the taste and making the dish even […]

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What insurers are adopting now!

  At World of Watson 2016, I attended several insurance-focused sessions (speaking at one of them), as well as hosting an industry dinner. I came away from the conference with three key observations: The insurance industry is beginning to leverage the Internet of Things. With an eye on enhancing growth, insurers are working on engaging […]

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Weather, Risk, and Essential Problems

In the news recently is an announcement from IBM related to insurance… our expansion of The Weather Company’s weather prediction capabilities across the world:  http://www-03.ibm.com/press/us/en/pressrelease/50218.wss.  We believe this has long-term implications for the insurance industry. One of the principles behind the provision of insurance is an accurate view of the underlying peril to be insured […]

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The Future of Everything: Risk Shocks, Risk Shifts for Insurers

The report of the first automated driving fatality, with a Tesla aficionado using the embedded Autopilot driver assist program crashing into a semi-trailer truck turning across its path, raises a number of issues for insurers. I’ve had ongoing discussions with several insurers around how quickly automated driving will impact auto insurance, and it’s fair to […]

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